Boise Cascade (NYSE:BCC) Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lifted its position in shares of Boise Cascade (NYSE:BCC - Free Report) by 118.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,895 shares of the construction company's stock after purchasing an additional 22,689 shares during the period. Arrowstreet Capital Limited Partnership owned 0.11% of Boise Cascade worth $4,980,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. American Century Companies Inc. increased its stake in Boise Cascade by 12.0% during the 4th quarter. American Century Companies Inc. now owns 1,134,364 shares of the construction company's stock worth $134,831,000 after acquiring an additional 121,790 shares during the period. Norges Bank bought a new position in shares of Boise Cascade in the fourth quarter worth $55,680,000. Bank of New York Mellon Corp raised its stake in Boise Cascade by 3.0% in the fourth quarter. Bank of New York Mellon Corp now owns 446,350 shares of the construction company's stock valued at $53,053,000 after purchasing an additional 12,963 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Boise Cascade by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 443,691 shares of the construction company's stock worth $52,737,000 after purchasing an additional 6,182 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Boise Cascade by 2.6% during the fourth quarter. Principal Financial Group Inc. now owns 208,323 shares of the construction company's stock worth $24,761,000 after buying an additional 5,281 shares in the last quarter. 96.18% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling at Boise Cascade

In other news, COO Jeffrey Robert Strom sold 4,500 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $100.21, for a total value of $450,945.00. Following the completion of the sale, the chief operating officer now owns 38,026 shares in the company, valued at approximately $3,810,585.46. This trade represents a 10.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kristopher J. Matula sold 553 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $103.16, for a total transaction of $57,047.48. Following the completion of the sale, the director now directly owns 13,099 shares of the company's stock, valued at approximately $1,351,292.84. The trade was a 4.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.98% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BCC shares. The Goldman Sachs Group decreased their price target on shares of Boise Cascade from $145.00 to $126.00 and set a "neutral" rating on the stock in a report on Tuesday, January 14th. DA Davidson lowered their price target on shares of Boise Cascade from $155.00 to $125.00 and set a "buy" rating for the company in a report on Monday, February 24th. BMO Capital Markets cut their price objective on Boise Cascade from $136.00 to $122.00 and set a "market perform" rating on the stock in a report on Tuesday, February 25th. Loop Capital reduced their price objective on Boise Cascade from $145.00 to $140.00 and set a "buy" rating on the stock in a research report on Monday, February 24th. Finally, Truist Financial dropped their target price on Boise Cascade from $157.00 to $134.00 and set a "buy" rating for the company in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $128.50.

Boise Cascade Stock Up 0.9 %

Shares of NYSE:BCC traded up $0.83 during trading on Friday, reaching $95.51. 261,309 shares of the stock traded hands, compared to its average volume of 330,827. Boise Cascade has a 52-week low of $87.84 and a 52-week high of $155.42. The stock has a market cap of $3.62 billion, a P/E ratio of 9.99 and a beta of 1.52. The stock has a 50-day moving average of $104.66 and a two-hundred day moving average of $124.05. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.92 and a current ratio of 3.34.

Boise Cascade (NYSE:BCC - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The construction company reported $1.78 EPS for the quarter, missing analysts' consensus estimates of $1.79 by ($0.01). Boise Cascade had a net margin of 5.60% and a return on equity of 17.04%. The firm had revenue of $1.57 billion for the quarter, compared to analysts' expectations of $1.57 billion. As a group, sell-side analysts expect that Boise Cascade will post 10.15 earnings per share for the current fiscal year.

Boise Cascade Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, February 24th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Monday, February 24th. Boise Cascade's payout ratio is 8.79%.

About Boise Cascade

Boise Cascade Company engages in manufacture of wood products and distribution of building materials in the United States and Canada. It operates through two segments, Wood Products and Building Materials Distribution. The Wood Products segment manufactures laminated veneer lumber and laminated beams used in headers and beams; I-joists for residential and commercial flooring and roofing systems, and other structural applications; structural, appearance, and industrial plywood panels; and ponderosa pine shop lumber and appearance grade boards.